Owl Lane, Calverton, Nottingham

Shared Ownership

This brand new home is available to buy from as little as £122,500 with a 50% share!

Forest View is a brand new development of homes situated within Calverton. In a great location to the north of the village, within easy walking distance of the shops, pubs and schools, Forest View offers an ideal base from which to enjoy the local community and the surrounding area.

Seven miles southwest of Calverton is Nottingham, with all its attractions and facilities. The historic city has all bases covered, from big-name brands in the Victoria Centre to the elegant glass domes of The Exchange arcade, to the dozens of restaurants, cafes and bars in between. The impressive Market Square is a great meeting place from where you can explore the many museums and cultural attractions, or hop on one of the trams that connect the points of the city.

Calverton is a golfer's paradise, with three clubs within a 10 minute drive. There are also some beautiful walks and viewpoints just beyond the village, or the leisure centre just a couple of minutes' walk from the development. On rainy days you could visit the Folk Museum in Calverton, Patchings Art Centre, or one of the many cultural attractions in Nottingham.

Forest View benefits from good accessibility to motor routes, being located between the A6097 and A614, meaning Mansfield, Newark-on-Trent, Derby and of course Nottingham are all within easy reach. Trains can be caught from Hucknall, Bulwell and Nottingham centre, and Nottingham City Airport is a half-hour drive away.

This brand new end of terrace home has accommodation over three floors that features a kitchen/diner with a separate living room, ground floor cloakroom, two bedrooms and a bathroom on the first floor and a further double bedroom with an en suite to the second floor. Externally is off road parking and a garden.

PRICING & AFFORDABILITY

Approximate Size: 951 sq ft

Full Market Value: £245,000

50% Share Price: £122,500 (rent £280.73pcm)
60% Share Price: £147,000 (rent £224.58pcm)
75% Share Price: £183,750 (rent £140.36pcm)

Minimum 5% Mortgage Deposit (50% share): £6,125
Approximate Service Charges: £49.91 pcm*
Shared Ownership Lease: 125 years
Council Tax Band: TBC

ELIGIBILITY

Shared Ownership gives first time buyers and those that do not currently own a home the opportunity to purchase a share in a new build or resales leasehold property. The purchaser pays a mortgage on the share they own and pays rent to a housing association on the remaining share. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright although this is not a guarantee.

At Forest View you can buy a minimum 25% share of your home (the maximum you can buy initially is 75%). When you’re ready, you can buy more shares until you staircase to owning 100% of your home.

To be eligible for shared ownership you would need to meet the following criteria:

• Your annual household income does not exceed £80,000.
• You have a deposit of at least 5% of the share value.
• You do not own another property or have your name on the deeds or a mortgage for a property worldwide.
• This will be your only residence.
• You are a permanent UK resident or have indefinite right to remain.

Please note the minimum share you can purchase can vary depending on your financial situation and you may be asked to purchase a larger share, should your personal circumstances permit.

*Service charges are estimated and may subject to change.

**These photos are for information purposes only and may not represent a true likeness for the units being sold. They may have been taken from earlier phases or similar developments/house types and digitally furnished to represent how the home could be laid out; the final colours/appearance/specification may differ from the images and are not plot specific. We advise applicants to make their own investigations on future development in the area. We would suggest contacting the local authority for more information.

SOWN are selling the homes on behalf of Sage Homes. Sage Homes is a Registered Provider committed to providing high quality affordable homes across England. For more information on Sage Homes visit